QUOTE (fumbrunner @ Mar 12 2010, 01:59 PM) Do any landlords or property managers here use online sites for rent payments? Current processes seem to be a bit dated (ie..picking up payment, having tenants visit an office, etc).
I have been snooping around but don`t really see any good CANADIAN tools.
We set up automatic withdrawal for each tenant. Most banks have their own form and some will even let you make your own, as long as it has certain info that they require. Talk to your bank about this. The rent gets drawn from the tenants account directly into ours. It`s great. We use TD Canada Trust by the way.
You set the day and the transfer is immediate. If there are insufficient funds it will bounce back in a day or two at no charge to you, but its much quicker finding out than depositing checks.